Markets have further gained ground in the afternoon trades ignoring the spike in inflation figures. India’s Inflation rate was at 7.33% for the week ended April 12 as compared to 7.14% last week. The BSE Bankex index has gained momentum, the BSE Bankex index (up 1.6%) also the telecom stocks are in demand after Bharti Airtel announced its Q4 results with a profit growing 39%.
At 12:24 pm (IST), the BSE 30-share Sensex was up 183 points at 16,904 and NSE Nifty was up 57 points at 5,057.
Lupin is marginally down 0.7% to Rs572. According to reports, the company has secured approval for ten generic drugs in Japan. The scrip has touched an intra-day high of Rs588 and a low of Rs570 and has recorded volumes of over 11,000 shares on NSE.
Concor has marginally slipped by half a percent Rs900. According to reports, the company plans to invest Rs6.5-7bn in the current fiscal. The scrip has touched an intra-day high of Rs911 and a low of Rs890 and has recorded volumes of over 2,000 shares on NSE.
Sterlite Technologies has advanced by 2% to Rs198 after the company on Thursday said that it secured contracts from PGCIL worth Rs2.96bn. The scrip has touched an intra-day high of Rs200 and a low of Rs190 and has recorded volumes of over 27,000 shares on NSE
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